What is cyber security and how has it evolved?

What is cyber security?

Cyber Security is defined as ‘how individuals and organisations reduce the risk of cyber-attacks throughout their business’. Its main function within an organisation is to protect the devices used such as computers, laptops, tablets or smartphones and the data they hold.

Your cyber security approach should be a multi-layered defense solution that should work to not only prevent unauthorised access to a persons or businesses personal data but also to detect attacks when they happen and help the organisation recover efficiently and effectively.

How has it changed?

Over the years, cyber security has become a growing priority for businesses due to the changing digital landscape within which they operate; social selling, online banking, and remote working have all become the “norm.” With these technology driven advancements, organisations have undertaken digital transformation programmes which have increased their digital footprint and increased their vulnerability to cybercrime. Alongside this, cybercriminals themselves have become more sophisticated with their attacks, using tool such as AI, bots, ransomware, malware, and spyware.

Top 5 Cyber Security Facts you should know – 

Phishing emails have increased by over 600% in the last year – Fintech News

304 million ransomware attacks occurred worldwide in 2020. A 62% t increase YoY – Statista

92% of malware is delivered by email CSO,2020

Four in ten businesses (39%) reported having cyber security breaches or attacks in the last 12 months. Gov.uk, 2021

In the UK, businesses have lost over £6.2 million due to cyber-scams over the past year – Security Magazine, 2021.

What should Cyber Security look like for my business?

Cyber security has come a long way from when computers and new technologies first came into the business world.

Here are a few tips to help you identify your cyber security needs for your business –

Employee Engagement

Engage with your employees to find out how they use their devices day to day. Once you’ve identified how they use their devices and their work practices, carry out some employee training and mitigation solutions. It is estimated that “Worldwide cybercrime costs will hit $6 trillion annually by 2021” Cybersecurityventures,2021.

Consider new technologies

Employ new technologies into your business’s cyber security plan, whether that involves backing your data up in cloud services, or ensuring you have the latest security software protecting you from viruses, malware, and other online threats. Studies show that “80% of enterprise IT will move to the cloud by 2025” The Wall Street Journal,2021.

Passwords and authentication

Identify how your employee’s password protect their devices and how regularly they update them. Depending on their level of access required, consider introducing multi-factor authentication to help secure devices and apps. Multi-factor authentication should be used to protect sensitive data such as financial or customer information.

Implement VPN connections

Whether you are working between office locations or remote working, it’s important for your business to consider virtual private network (VPN) connections. This will help reduce the risk to your organisations’ network and vulnerabilities to a cyber-attack. Statista estimates that the VPN market is expected to surpass $92 billion in 2027.

Be prepared to invest

For many businesses throughout the UK,  remote working and hybrid working has become a new trend that seems to be staying for the foreseeable future. A recent report from Gartner suggests that “82% of business leaders will let their employees work remotely in a flexible capacity”. With new trends and having to adapt to new situations, it’s important for all businesses to invest in their cyber security, whether that involves auditing your current processes or identifying what needs updated.

If you would like more information on how you can improve your cyber security, contact us for a free consultation and security audit today.